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Guyana can learn from the Venezuelan crisis

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Venezuela provides a window to a dystopian future. The country’s neighbour to the east, Guyana, is developing its first offshore oil and gas finds made in the past five years. There’s a growing number of them; the 16th discovery...
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Baker Hughes reports US drilling rigs drop by 44

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Baker Hughes’ latest Rig Count revealed that as at March 27, 2020 the count of active United States drilling rigs has dropped by 44 to 728 after falling by 20 one week earlier. In addition, the US active rig...
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Conex Oil and Gas acquires Total’s Liberia and Sierra Leone businesses

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Liberia’s Conex Oil and Gas Holdings Limited (Conex) on Wednesday March 25, 2020 signed an agreement with Total to acquire Total Liberia and Total Sierra Leone, which are leaders in the importing and marketing of petroleum products throughout their...
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Rosneft hands Venezuelan oil business to Russian state firm

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(AP) — Russia’s Rosneft oil company said Saturday that it’s halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government, a move apparently intended to protect Russia’s largest oil producer from...
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Low quality Guyana oil among list of Tullow’s 2019 disappointments

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Executive Chair of Tullow Oil PLC Dorothy Thompson reported the Board’s disappointment in the company’s operational and financial performance for 2019, saying that in 2020 the British oil and gas operator will work to rebuild the stakeholder trust that...
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They used to be oil tankers. Now they’re hospital ships deployed to help during the coronavirus pandemic

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Two US Navy hospital ships sent to ports in California and New York will help ease the burden of hospitals immersed in treatment of coronavirus patients. According to a CNN report, the USNS Mercy reached Los Angeles on Friday morning,...
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Oil headed to $10 a barrel as virus lockdown eradicates fuel demand

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(FORBES) Oil prices have collapsed by more than half this year, to $23 per barrel on Thursday for West Texas Intermediate crude. But now is not yet the time to buy oil—because the worst is yet to come. Gasoline demand is...
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Guyana’s ‘niche product’ could help counter a bearish oil market – API Chief Economist

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Chief Economist at the American Petroleum Institute (API) Dr. Dean Foreman believes that Guyana’s oil economy is likely to withstand the current low-price environment triggered by the Russia-Saudi Arabia price war and now worsened by the COVID-19 global pandemic. “Guyana’s...
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Guyana remains a bright spot in oil’s universe but politics could change the outlook

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The International Monetary Fund, World Bank, and several other institutions, analysts and experts have all placed Guyana on the road to rapid economic growth and transformation fueled by the massive oil resources discovered by ExxonMobil off the country’s coast...
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SBM Offshore prioritising staff safety as global pandemic unfolds

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Dutch floater specialist SBM Offshore says the unprecedented times brought on by the global COVID-19 pandemic is resulting in a strong, united front from the company as it takes measures to ensure the health and safety of its workers. “As...
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SLB acquires ChampionX as it strengthens production and recovery capabilities

SLB has completed its acquisition of ChampionX Corporation, expanding its portfolio in the production and reservoir recovery space.  In its...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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